'People are petrified of becoming homeless': New report shows sharp rise in rents in Cork

Overall, Munster has seen record inflation in rent prices.
According to the latest rental report from property website Daft.ie, rents in Cork City have risen by 6.9% in the last year, with the average rent now standing at €1,544 per month.
In the county, rents were on average 14.6% higher in the third quarter of 2021 than a year previously, with the average rent now costing €1,211 per month.
Overall, Munster has seen record inflation in rent prices.
Rents continued to rise in the Cork city and county rental markets, along with all Munster rental markets, between June and September — the fourth consecutive quarter that this has happened, according to the latest report.
The latest increases mean that Munster rents are now 15.6% higher than a year ago, the highest increase on record back to 2006.
Nationwide rents in the third quarter of 2021 were an average of 6.8% higher than the same period last year.
Threshold regional manager for Cork Edel Conlon described the latest findings as“disheartening and frustrating”.
“Rents are going up and up and up. Rents are gone to an unaffordable level. People are terrified of becoming homeless. People are paying rents they shouldn’t have to pay.”
Cork City Solidarity councillor Fiona Ryan said the high rates were no surprise.
“This is the reality that people are living with since the financial crisis,” she said.